Core Viewpoint - A class action lawsuit has been filed against Everus Construction Group, Inc. for allegedly misleading investors about its backlog conversion cycle, which has negatively impacted revenue recognition [1][2]. Group 1: Class Action Details - The class action is on behalf of individuals and entities that purchased Everus common stock between October 31, 2024, and February 11, 2025, including those who held MDU Resources stock and acquired Everus shares during its spinoff [1]. - The lawsuit alleges that Everus failed to disclose that its backlog conversion cycle had elongated due to larger, more complex projects, leading to delayed revenue recognition [2]. - Following the release of its fourth quarter and full year 2024 financial results on February 11, 2025, Everus's stock price dropped by $18.88, or 27.6%, closing at $49.54 per share on February 13, 2025 [2]. Group 2: Participation and Representation - Shareholders interested in serving as lead plaintiffs in the class action are encouraged to contact Robbins LLP, which represents the class on a contingency fee basis, meaning no fees or expenses are required from shareholders [3][4]. - Shareholders can choose to remain absent from the case while still being eligible for recovery if the class action settles [3].
Robbins LLP Reminds ECG Stockholders With Large Losses to Contact the Firm for Information About the Class Action Lawsuit Against Everus Construction Group, Inc.